The move will cost the Eagles $4 million, but it clears up more than $11 million in salary cap space. The Eagles already had the fifth-most salary cap space in the National Football League, and now they will have $45.2 million in available cap space.

The veteran cornerback turns 32 this offseason and will be regarded as one of the biggest free-agent busts in the history of the National Football League. That's no exaggeration at all.

The Eagles stunned the football world when they signed Asomugha to a five-year, $60 million deal during the 2011 offseason. Asomugha had widely been regarded as the second-best cornerback in the league, trailing only Darrelle Revis of the New York Jets.

But Asomugha failed to even remotely fulfill expectations during his two seasons in Philadelphia. He allowed a subpar 88.6 passer rating in 2011, along with a ridiculous 12 missed tackles in 50 attempts.

He was even worse in 2012, as his 120.6 passer rating allowed was the fifth-worst mark in the league. He also missed seven tackle attempts.

Asomugha will forever stand as the symbolism of the Dream Team, as backup quarterback Vince Young called the Eagles when they generated headlines for their big free-agent signings. Besides Asomugha and Young, the Eagles signed Cullen Jenkins, Jason Babin, Ronnie Brown and Steve Smith.

Asomugha rivaled Reggie White from the 1993 offseason as the biggest defensive free agent in NFL history when he left the Oakland Raiders two summers ago. Now it's likely that he'll still be signed, but he's far from a highly-coveted player.

First and foremost, Nnamdi Asomugha needs to show that he can still play football. At 32 years old (by the start of next season), no team should give him more than a one-year deal.

The Eagles are left with just three cornerbacks on the current roster: Brandon Boykin, Curtis Marsh and Brandon Hughes. None of those three will likely start in 2013, meaning the Eagles need to find a pair of starting cornerbacks through the draft or free agency.